A Home Owners Association (HOA) is an organization that manages a subdivision. The real estate developer is responsible for creating and putting the HOA together. This HOA sets the rules and regulations of a community and is in charge of the upkeep of the development. In particular, the common areas within a development such as pools or landscaping.
As a real estate investor, HOA fees are something you take into account if there is an HOA. Not only when you purchase but also as a holding cost if you plan to hold it. Additionally, there may be additional regulations you have to follow when rehabbing the property. For example, some HOA’s have rules on exterior colors and roof styles and colors that can be used. The types and/or color of your home’s mailbox, and restrictions on fencing and sheds, etc..
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